Hollywood's small businesses in crisis
Hollywood may be known for its big studios with thousands of employees and giant sound stages. But of the 5,900 businesses in Hollywood, 99.5% have less than 500 employees, and over 90% have fewer than 10 employees.
One of those companies is Star Waggons, which builds and rents custom trailers for stars and crew, for everything from film and TV shoots to commercials and concerts. The company employed around 100 employees and generates around $20 million annually. But this year it's a very different situation. When sets shut down, CEO Jason Waggoner was forced to furlough some of his employees, as he looked at months with zero revenue.
Now. Waggoner says they're working to make sure they're ready for more social distancing on sets, when productions start up again. "We are optimistic, once production comes back, I have to imagine it's going to be really, really busy, but when that's going to be I don't know."
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